GBP/USD shows the price of £1 quoted in USD. This ratio is shown as a number, such as 1.3809, demonstrating £1 is worth $1.3809. GBP/USD is one of the most frequently traded pairs and is known as cable. This nickname comes from a transatlantic cable in the 19th century that would relay this rate between exchanges in London and New York.
When it comes to forex trading, you can find many liquid markets. Some of the pairs with the highest trading volume include USD/JPY, GBP/USD, USD/CHF, and EUR/USD. These pairs are known as the majors and consist of the US dollar, Japanese yen, British pound sterling, Swiss franc, and euro.